Definition of "Cost"

Audrey Guarino real estate agent
Audrey Guarino, Real Estate Agent American Dream Realty

  1. An asset. The term cost is often used when referring to the valuation of acquired property. When it is used in this sense, a cost is an asset.
  2. Concepts of cost and expense are often used interchangeably. When the benefits of the acquisition of a building expires, the cost becomes an expense called depreciation.
  3. The sacrifice, measured by the price paid, to acquire real estate.

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